Financial News
Oil prices drop back after two sessions of gainsExternal Link

Oil prices settled sharply lower Monday, pressured by expectations for further growth in U.S. crude production, as little news emerged from a technical meeting of OPEC and non-OPEC producers. "The fundamentals of the oil market remain bearish for now as U.S. production continues to grind higher and OPEC has so far failed at trying to offer material support to the market through their policy decisions," said Tyler Richey, co-editor at the Sevens Report. September WTI crude fell $1.14, or about 2.4%, to settle at $47.37 a barrel on the New York Mercantile Exchange. It gained 3% on Friday.

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Mon, 21 Aug 2017 18:43:57 GMT
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Target launches latest kid-designed Art Class collectionExternal Link

Target Corp. said Monday that it will release the latest iteration of its children's collection Art Class, designed with help from six kids, all "trendsetters" and social media personalities between the ages of 13 and 16, on August 27. The "Fall Semester" features more than 50 items, most priced under $20, and includes pins, paints and patches so merchandise can be personalized. Target is focused on growing its portfolio of private labels over the coming months, with Cat & Jack, its year-old children's line, surpassing $2 billion in sales. Target shares are up 2% in Monday trading, but down 21.4% for the year so far. The S&P 500 index is up 8.3% for 2017 to date.

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Mon, 21 Aug 2017 18:15:00 GMT
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Gold prices climb to highest finish since early JuneExternal Link

Gold prices climbed Monday to mark their highest settlement since early June as rising tensions between the U.S. and North Korea lifted investor demand for the precious metal. The move for gold comes ahead of the economic policy symposium of global central bankers that begins Thursday, which could offer clues from central bankers on any shifts to monetary policy. December gold rose $5.10, or 0.4%, to settle at $1,296.70 an ounce. That was the highest finish since June 6, according to FactSet data.

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Mon, 21 Aug 2017 17:57:35 GMT
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Sen. McConnell says there's 'zero chance' U.S. won't raise debt ceiling External Link

Senate Majority Leader Mitch McConnell said Monday there's "zero chance" that the debt ceiling won't be raised. Speaking at an event in Kentucky with Treasury Secretary Steven Mnuchin, the Kentucky Republican said "America's not going to default." Mnuchin has said the Treasury can keep paying bills through September.

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Mon, 21 Aug 2017 17:00:49 GMT
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The Dow industrials struggle to retain grip on key, short-term bullish trend line External Link

The Dow Jones Industrial Average on Monday briefly traded below an important trend line in early Monday trade, underscoring a steady deterioration of the benchmark's bullish trajectory. The Dow , which was currently paring its losses, traded at an intraday low at 21,600, which puts the equity gauge below its 50-day moving average of 21,629.16, according to FactSet data. It's the first time Dow has slipped below that short-term average level since mid May. Market technicians consider short-term and long-term moving averages in an asset as a dividing line between downward and upward momentum. The S&P 500 index also is trading below its 50-day mark, which it most recently breached on Aug. 11. The Dow, S&P 500 and Nasdaq Composite Index have been carving out a steady retreat in recent action. All three have ended lower in the past two straight sessions, with Monday threatening to make it a third. On the day, equity indexes were paring losses somewhat, with the S&P 500 trading flat at 2,427, the Dow steady at 21,679, and the Nasdaq looking at a decline of 0.1% at 6,209.

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Mon, 21 Aug 2017 16:07:40 GMT
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